LONDON (Thomson Financial) - Specialist British drug delivery company Skyepharma Plc. said it
expects its bond proposals, placing and open offer to be finalised on Sept 25.
It added it expects the consolidated new shares to be issued pursuant to the placing and open offer to be admitted to the Official List and to commence trading on the London Stock Exchange on Sept. 26 and the bond proposals to be implemented on or around Oct. 1.
On Sept. 1, SkyePharma had said in a statement it would sell 1.4 billion new shares at 1.5 pence in an underwritten placing and open offer.
It had also stated 70 percent of the holders of its 2024 convertible bond and 100 percent of the holders of its 2025 convertible had agreed to proposed changes to the conversion price and dates for put options on the two convertibles.
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